Bayforest Capital Ltd Sells 10,537 Shares of AGCO Corporation $AGCO

by · The Cerbat Gem

Bayforest Capital Ltd decreased its holdings in AGCO Corporation (NYSE:AGCO – Free Report) by 59.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,156 shares of the industrial products company’s stock after selling 10,537 shares during the quarter. Bayforest Capital Ltd’s holdings in AGCO were worth $738,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Fifth Third Wealth Advisors LLC acquired a new position in shares of AGCO in the 2nd quarter valued at $219,000. Blue Trust Inc. raised its stake in shares of AGCO by 16.8% in the 2nd quarter. Blue Trust Inc. now owns 2,229 shares of the industrial products company’s stock valued at $230,000 after buying an additional 321 shares in the last quarter. Callan Family Office LLC acquired a new position in shares of AGCO in the 2nd quarter valued at $560,000. Mirova US LLC raised its stake in shares of AGCO by 3.2% in the 2nd quarter. Mirova US LLC now owns 1,253,258 shares of the industrial products company’s stock valued at $129,286,000 after buying an additional 39,263 shares in the last quarter. Finally, KLP Kapitalforvaltning AS increased its position in shares of AGCO by 17.4% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 14,200 shares of the industrial products company’s stock worth $1,465,000 after purchasing an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.

AGCO Stock Up 0.5%

Shares of NYSE AGCO opened at $104.24 on Tuesday. The firm’s 50-day moving average is $110.05 and its 200-day moving average is $102.79. AGCO Corporation has a 1 year low of $73.79 and a 1 year high of $121.16. The firm has a market capitalization of $7.78 billion, a PE ratio of 77.79, a price-to-earnings-growth ratio of 1.65 and a beta of 1.23. The company has a current ratio of 1.48, a quick ratio of 0.67 and a debt-to-equity ratio of 0.66.

AGCO (NYSE:AGCO – Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The industrial products company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.29. AGCO had a net margin of 0.98% and a return on equity of 8.27%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter last year, the firm earned $2.53 EPS. AGCO’s quarterly revenue was down 18.8% compared to the same quarter last year. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. Equities analysts expect that AGCO Corporation will post 4.2 EPS for the current year.

AGCO declared that its Board of Directors has authorized a share buyback plan on Wednesday, July 9th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 12.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other AGCO news, SVP Luis Fernando Sartini Felli sold 10,000 shares of AGCO stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $109.40, for a total value of $1,094,000.00. Following the transaction, the senior vice president owned 16,189 shares of the company’s stock, valued at approximately $1,771,076.60. The trade was a 38.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 16.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AGCO. Citigroup dropped their target price on shares of AGCO from $125.00 to $120.00 and set a “neutral” rating for the company in a research report on Tuesday, September 23rd. JPMorgan Chase & Co. dropped their target price on shares of AGCO from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, September 2nd. Truist Financial dropped their target price on shares of AGCO from $143.00 to $142.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. Zacks Research cut shares of AGCO from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Finally, UBS Group reiterated a “neutral” rating and set a $119.00 target price (up previously from $100.00) on shares of AGCO in a research report on Friday, August 8th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $116.25.

Get Our Latest Stock Analysis on AGCO

About AGCO

(Free Report)

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, equestrian, and residential uses.

See Also

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